Mailbag

Mailbag

Letters to Barron’s about signs of market weakness, signs of military over-spending and deceptive language about federal spending.

March 6, 2015 11:43 p.m. ET

Clouds on the Horizon

To the Editor: The Feb. 23 Up & Down Wall Street column (“Kicking the Can Down the Road”) was a good reminder that this year could be a difficult one for U.S. equities.

Bringing up the fact that Robert Shiller’s CAPE ratio (price to 10-year normalized corporate earnings ratio) and the equity market cap to gross-domestic-product ratio were both at almost historical highs—only topped by the tech mania of 1999-2000, were good points. When I looked at these indicators, they both seem to be saying...